U.S. Silver Corporation (TSX:USA, OTCQX:USSID, Frankfurt: QE2) (“U.S. Silver” or the “Corporation”) announces that, further to its press release of February 14, 2012, the Toronto Stock Exchange (the “TSX”) has provided acceptance of the Corporation’s Notice of Intention to make a Normal Course Issuer Bid. Under its Normal Course Issuer Bid, the Corporation may purchase of up to 3,092,727 of its common shares, representing approximately 5% of the Corporation’s issued and outstanding common shares. As of February 9, 2012, the Corporation had 61,854,543 common shares issued and outstanding. The Corporation will cancel any common shares purchased pursuant to the normal course issuer bid. The purchases may commence on February 21, 2012 and will terminate on February 20, 2013 or on such earlier date as the Corporation may complete its purchases pursuant to the Notice of Intention to make a Normal Course Issuer Bid. Purchases will be made on the open market by the Corporation through the facilities of the TSX in accordance with TSX requirements. The prices that the Corporation will pay for any purchased common shares will be the market price of such shares on the TSX at the time of acquisition. The Corporation will make no purchases of common shares other than open market purchases. Daily repurchases by the Corporation will be limited to 22,377 common shares, other than block purchase exceptions, based on an average daily trading volume since October 3, 2011, being the date of listing on TSX, of 89,509 common shares. The Corporation has not purchased any of its common shares during the preceding 12 months pursuant to a normal course issuer bid.